Skeena halfway to Eskay Creek completion
Since starting development activity on the Eskay Creek gold and silver project in British Columbia in December 2024, precious metals developer Skeena Resources has reached 49% completion of the project, with 66% of project costs having been contractually committed.
As per the company’s updated cost estimate, $659-million is required to bring Eskay Creek into production, of which $354-million remains to be spent.
The cost estimate had to be updated from the prior $560-million envisioned in the 2023 definitive feasibility study owing to general cost escalation as a result of inflationary pressures, optimisation of the permanent camp location and operational design enhancements to improve winter operating conditions.
The company expects initial production from Eskay Creek by the second quarter of 2027 and commercial production during the third quarter of 2027.
CEO and president Randy Reichert says the company’s strategy of initiating development activities well ahead of final permit receipt has delivered meaningful value for shareholders. “By acting early, we reduced project timeline risk and minimised inflationary impacts across key scopes by securing procurement contracts earlier.”
Some of the completed activities on site include receipt of initial large mining equipment, access road bridge replacements, process plant pad mass earthworks and assay lab construction.
The ongoing activities that are progressing on schedule include tailings facility construction, permanent camp construction, water treatment construction, electrical infrastructure construction, process plant construction and process plant detailed engineering.
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